Why GE Should/Shouldn't
Go Into the Hospital Biz

By

Holman W. Jenkins Jr.

Updated Nov. 20, 2002 12:01 a.m. ET

Jeff Immelt has sent word to his troops to look for acquisitions that would let General Electric continue to meet the earnings growth that investors have come to expect. He'd like more of these earnings to come from concrete goods and services. GE's stock price is sagging; growing legions of critics complain about the company's reliance on cheap borrowing and financial engineering. Some even insist GE must spin off GE Capital, its large financial arm, or get used to a share price weighed down by market distrust of financial...